The present invention is generally related to computer software, and in particular, concerns a personal computer-based system for companies with networked computer systems.
Several large mainframe software systems for the life insurance industry have been developed over the last twenty years. The foundation for most of these systems is IBM's original 1962 CFO product. The first generation of products was written in AUTOCODER and was designed for a computer with 16 k of memory. The second generation of products was a CFO replacement system again directly descended from the original CFO product but written mostly in ASSEMBLER language. The third generation of life insurance software was mainframe database systems. These systems were all large mainframe databases, some of which were relational, written primarily in COBOL, with most components being taken from earlier systems. The fourth generation systems are mini and PC based mainframe replacement systems. Again these systems are written in COBOL, still using the single centralized processor concept. Some are transportable between PC's, mini-computers and mainframes.
The first through fourth generation software systems for life insurance companies still use technology with disjointed data files, outdated mainframe architecture, restrictive data formats and difficult programming languages. The deficiencies are particularly onerous in view of increased competition in the insurance industry. Competitive shifts and opportunities in the marketplace are characterized by a need for rapid, competent adjustments in product support services, compensation systems and customized administrative support. In addition, increasing government regulation and reporting have been relentless in recent years and require sophisticated computer system enhancements. Another problem is a shortage of qualified computer programmers. Of even greater importance, the shorter product lead times and life cycles in the insurance industry now require products to be implemented more quickly.
In addition to these problems the data processing departments of insurance companies are being asked to provide wider and easier access to the corporate database, in order to provide the users with the necessary data to administer products and provide prompt customer service. At the same time cost must be kept within acceptable levels.
Accordingly, it is an object of the present invention to provide an integrated system for the administration of an insurance company at a reasonable cost. This integrated system must reduce total data processing costs, reduce product implementation time frames, be easy to use and provide greater flexibility in product design and commission payment frequency and format.